London – Chrysalis, the U.K.-based independent music
publishers, has been acquired by Germany’s Bertelsmann and private equity firm
Kohlberg Kravis Roberts & Co. (KKR) in a deal valued at $168.8 million.
Bertelsmann
and KKR, under a joint venture called BMG Luxco, paid a premium of 45.5% over
Chrysalis’ share price on Oct. 29.
Chrysalis was founded in 1967, and its
library of more than 100,000 titles includes works by artists such as David
Bowie, Siouxsie and the Banshees, Cee-Lo Green, Thom Yorke and the Yeah Yeah
Yeahs.
Related Links:
http://tinyurl.com/2d7gxch
(N.Y. Times)
